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June 1, 2019
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Home was destroyed in 2003 tornado.SBA gave low interest loan to buy a different home in 2003.The land sold this year.The SBA took half immediately. How do I report this?

  • June 1, 2019
  • 1 reply
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    Best answer by KittyM

    You can report the amount the SBA took as a cost of your sale.  

    I'm sorry you lost your home in a tornado.  I know how traumatic that is.

    1 reply

    KittyMAnswer
    Employee
    June 1, 2019

    You can report the amount the SBA took as a cost of your sale.  

    I'm sorry you lost your home in a tornado.  I know how traumatic that is.

    June 1, 2019
    Thank you so much!